PM Expects 5 Percent Economic Growth in 2013/14

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January 8, 2014 5:51 PM EST

India's economic growth in the current fiscal year will likely remain flat at 5 percent, Prime Minister Manmohan Singh said on Wednesday.

Reuters
Prime Minister Manmohan Singh addresses the 68th United Nations General Assembly at U.N. headquarters in New York, September 28, 2013

Singh's forecast is more optimistic than those of several private economists, who are predicting growth in the year to March 2014 to slip below 5 percent.

Pace of economic expansion in Asia's third largest economy hit a decade-low of 5 percent in the last fiscal year.

(Photo: Reuters / )
Prime Minister Manmohan Singh addresses the 68th United Nations General Assembly at U.N. headquarters in New York, September 28, 2013
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